Demand for spare parts lifts car dealer Lookers to record figures

Higher demand for spare parts has helped car dealership Lookers to post a record trading performance, according to new figures.

The Manchester-based firm said first-half profits at its parts distribution arm, including FPS, jumped by 21 per cent to £5.2million as more motorists opt to keep their vehicles on the road in the current economic conditions.

In the six months to June 30, group profits came in at £22.7 million, a 29 per cent increase compared to last year's £17.6million. Turnover was also up 13 per cent to £988.3million.

Full throttle: Car dealership Lookers has posted record half-year figures

Lookers said the UK new car market had shown strong signs of
improvement with registrations jumping by 20 per cent to 1.1million in
the period.

New car sales on a like-for-like basis increased by 26 per cent to
32,469, including cars sold under the government scrappage scheme, but
used car sales declined by 6 per cent.